When Americans stop buying cars, cameras and flat-screen televisions, Asian executives wring their hands. Many of Asia's biggest companies depend on U.S. consumers. Top Japanese and Korean exporters are forecasting slower sales because of the economic slowdown. Stocks in these companies plummeted Friday, and with overall fear of recession still causing panic in the market, Asian stocks took another nosedive. Japan's Nikkei fell nearly 10 percent.
STEVE INSKEEP, host:
NPR's business news starts with Asian exporters feeling the pain. When Americans stop buying cars, cameras and flat screen televisions, Asian executives wring their hands. Many of Asia's biggest companies depend on U.S. consumers and top Japanese exporters like Toyota, Sony, Canon, and Korea's Samsung are now forecasting slower sales because of the economic slowdown. Stocks in these companies plummeted today as did other Asian stocks. Japan's NIKKEI index fell nearly 10 percent in one day. Korea's main index tumbled 11 percent.
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